Primary Residence Exemptions

There are three types of Primary Residence Exemption. The chart below shows the main differences and requirements. 

Please see the chart below to determine which exemption you should apply for. Those seeking a Primary Residence Exemption must execute an affidavit and promissory note in addition to the application. There is a $26 application fee payable by cash or check for all Primary Residence Exemptions.

SUMMARY OF PRIMARY RESIDENCE RETT EXEMPTIONS:

Exemptions
Section (17)
Section (18)
Section (19)
Amount
$160,000
$160,000

$240,000
Home Value Cap
None
None
$700,000
Eagle County Employee
N/A
Yes
Yes
Affidavit of Primary Residence
Yes
Yes
Yes
Promissory Note
1 year
1 year
3 years
Lien
Yes
Yes
Yes
Instructions and Promissory Note and Affidavit
Section 17 RETT Exemption Instructions
Section 17 Promissory Note and Affidavit
Section 18 RETT Exemption Instructions
Section 18 Promissory Note and Affidavit
Section 19 RETT Exemption Instructions
Section 19 Promissory Note and Affidavit


Submit your application, affidavit and promissory note, and fee:

  • By mail to Town of Avon, Finance Department, PO Box 975, Avon CO 81632.
  • In person to Town of Avon, Nelly Burns, 100 Mikaela Way, Avon CO 81632.
  • Questions can be submitted to Nelly Burns, nburns@avon.org or 970-748-4014

For more details, see the information on the specific tabs below:

  1. (17) Primary Residence
  2. (18) Subsequent Primary Residence
  3. (19) Increased Primary Residence

(17) Primary Residence Exemption - The conditions of the Primary Exemption include:

  • An affidavit and promissory note is required, along with the RETT application, and check or cash in the amount of $26.
  • The property must meet the definition of a Primary Residence as provided in section 3.12.020 of the Town of Avon Municipal Code.
  • Occupation and use of the residence as primary residence must occur within thirty (30) days of transfer of the real property.  However, if indicated on the application, the Town Manager may grant an extension of an additional ninety (90) days if extenuating circumstances are found to exist.
  • The first $160,000 of the purchase price is exempted from the 2% transfer tax, therefore the maximum exemption is $3,200. The exemption is only applicable to the buyer’s portion of the tax.  The seller is not intended to benefit from the primary exemption.
  • A Lien for the amount of exempted transfer tax is placed on the property for one full year after the date of acquisition.
  • The Town will release the lien no sooner than one year after the acquisition date if the Borrower provides evidence that the property was used as a primary residence. Evidence may include a Colorado Driver’s License or ID and/or voter registration that lists the exempted property as the applicant’s current address.
  • If the applicant does not meet these conditions or sells the property within the first year of residency, the amount of exempted transfer tax will be immediately due and payable along with interest assessed at 1% per month.